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2015 (7) TMI 293 - AT - Income TaxEligibility for deduction u/s 80IB(10) - CIT(A) observed that AO failed to consider and appreciate the detailed explanation given by the assessee during the course of assessment proceedings highlighting the facts that he fulfilled all the requisite conditions for eligibility of claim u/s 80IB(10) and allowed claim - Held that:- The terms and conditions entered into between the assessee and the society as per the development agreements provided all the dominant control and rights over the land to the assessee and the assessee developed and constructed the housing project at its own cost and would remain owner of the building without any interference from the society. The development agreements in question did not provide that the assessee would be working as a contractor or agent on behalf of the society. The assessee acquired the land in question and has developed the housing project at its own cost as per requirement of section 80IB(10) of the Act. The assessee has developed and constructed the housing project as per the development agreements by incurring total expenditure and received the sale consideration. The assessee satisfied the requirements of provisions of section 80(IB)(10). Moreover once plan is approved by AUDA on papers submitted by assessee and others, it would be deemed approval of construction of housing units in favour of the assessee, more so, when assessee entered into agreements for developing the whole of the property. In view of the above, CIT(A) was justified in granting deduction because assessee has acquired right of developing housing project, incurring total expenditure and taking all risks thereof. There is no infirmity in the order of CIT(A). So we are inclined to uphold the same. - Decided against revenue. Disallowance u/s 40(a)(ia) - Non deduction of TDS on labour/transport charges - CIT(A) deleted the disallowance - Held that:- there is no infirmity order of CIT(A) who has allowed the disallowance by following the decision of the Tribunal in the case of Kanubhai Ramjibhai Makwana (2010 (12) TMI 172 - ITAT, AHMEDABAD) wherein it has been held that in case TDS has been deposited on or before due date of filing of return, the same is allowable. - Decided against revenue.
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